New Delhi:
Finance Minister Nirmala Sitharaman on Wednesday met World Bank Group President Ajay Banga and discussed the involvement of multilateral banks in various sectors in India. Apart from issues of mutual interest, Sitharaman also discussed the outcome of the G20 under India’s chairmanship and strengthening of the World Bank. The finance ministry posted on the social networking platform, “The Union Finance Minister said that the World Bank should play a leading role in taking forward the recommendations contained in Volume-1 and Volume-2 of the G20 Independent Expert Group.” “Other multilateral banks look to the World Bank for such reform initiatives,” he said.
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An Independent Expert Group (IEG) constituted under the G20 under the chairmanship of India has recommended steps to harness the capabilities of multilateral banks. Banga told the finance minister that the World Bank has constituted a task force under the chairmanship of India to study the recommendations of the IEG under the G20.
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